HMRC have created a series of fun and educational videos for children and young people to explain tax, working for yourself, what happens when you start work and also about the hidden economy of tax avoiders which costs the UK economy £5 billion every year. The tax facts for young people series is a great educational tool for children of all ages and may help parents to get their children to understand the value of money, why we get taxed and how it benefits us all through public services.
What can children and young people learn from these videos?
Delivered in an entertaining style, these tax facts for young people are simple introductions designed to prepare young people for life after school, with a general overview of what HMRC does, how taxes are collected and how the money is used in the UK.
The clips detail the many public services that are provided through the tax that is paid in Ireland, England, Wales and Scotland. The videos show how police, schools, pensions for older people and hospitals are all available to us because of the tax we pay, whether it be personal tax or corporation tax.
These informative tax facts for young people clips explain what happens when you start working for yourself, about the national minimum wage, as well as how we pay VAT on everyday items we buy.
Click on the images below to watch these clips in YouTube.